I received an email from a coaching colleague of mine today in a quandary.
They have grown a very successful six figure career coaching practice working with executives. By choice they coach just three clients in any one month.
However they noticed that:
- they are turning away clients from their practice as they have so few people they work with
- there are some people that can not afford the significant investment to work with them.
Their question to me was:
"Krishna, what can I do so that I can leverage my reputation as the "person to see" and an expert in career coaching for executives and also profit from this without taking on more clients?"
Have you guessed one of my answers in response to this question?
A critical break through in the development and growth of your coaching practice is making the transition from trading your time and intellectual knowledge for dollars to turning what you know into cashflow and creating your own information product empire.
This is a strategy few coaches implement. I know some million dollar coahes who are run off their feet exhausted, delivering programmes and one to one coaching, yet have not adopted this important business development strategy.
What you might not realise is that not all coaching clients are ready, willing or perhaps even able to invest in your coaching services, but by building your own information empire means that you can turn your expertise into information products.
These can be at different price points therefore offering more choice to clients and potential clients in terms of how to engage you.
You could create an e-course, e-books, audio programmes, workbooks, CD's or DVD's - and you will be surpised how cost effective these are to create.
Your information products can be lead generators and available at no cost or can become a new stream of revenue for you - yes you can realise that dream of many coaches to sell while you are sleeping.
In addiiton, by creating a consistently branded information marketing empire positions you as the expert in your field and helps you differentiate yourself from other coaches operating in your niche. This in turn will build your personal brand.
Over the last two years have had the honour of teaching nearly 1000 leaders of professional services firms about how to create their own information products.
On Monday 18 June 2007, one of the programmes I am a faculty member on starts again and we will be teaching hundreds of visionary business leaders how to create their signature information product in just 90 days.
So if you want to spend the summer leveraging your intellectual knowledge and turning it into profit, you might be interested in joining me. We will be holding the classes by teleseminar so you can join us from anywhere in the world.
If you are unsure if it is the right programme or timing for you, drop me an email and we can arrange to talk about what is the right information marketing and product strategy for you.
